Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/312726 
Year of Publication: 
2025
Series/Report no.: 
Routledge Open Business and Economics
Publisher: 
Routledge, Oxford
Abstract: 
SimDec is a revolution in decision-making support. SimDec "teases out" inherent cause-and-effect relationships and reveals the intricacy of relationships between sets of input and output variables. At its core, SimDec is an amalgamation of uncertainty and global sensitivity analysis with an innovative visualization technique. While straightforward and elegant, this novel approach significantly enhances the analytical capabilities of users by readily exposing seemingly, a priori, counterintuitive behaviours so that they can be readily understood by both technical specialists and non-technical users alike. This book is the first to articulate the ubiquitous applicability of SimDec and has been written by the leading proponents of the technique. The book provides the necessary background to fully understand the underlying approach and then demonstrates its applicability to a wide spectrum of fields, such as finance, entrepreneurship, energy, 3D manufacturing, geology, the environment, engineering, public policy, and even superconducting magnets. To facilitate as widespread adoption and penetration of SimDec as possible, all supporting computer codes are available, open-source, in Python, Julia, R, and Matlab. The innovative material will be of primary benefit to practitioners and researchers analyzing data from the social sciences, business, science, engineering, mathematics, and computing. The Open Access version of this book, available at http://www.taylorfrancis.com, has been made available under a Creative Commons [Attribution-Non Commercial-No Derivatives (CC-BY-NC-ND)] 4.0 license.
Subjects: 
Engineering
Mathematical modelling
Computer modelling
Simulations
Monte Carlo simulation
Uncertainty
Risk
Decision making
Policymaking
Investment analysis
Sensitivity analysis
Operations research
Environmental issues
Persistent Identifier of the first edition: 
ISBN: 
978-1-040-12132-0
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Book

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